London Stock Exchange today welcomes Fair Oaks Income Fund
London Stock Exchange today welcomes Fair Oaks Income Fund Limited to the Specialist Fund Market. The investment objective of the Company is to generate attractive, risk-adjusted returns, principally through income distributions. The Company will invest in US and European CLOs or in other structures which provide exposure to portfolios consisting primarily of US and European floating-rate senior secured loans. The Company raised $ million via a Placing and Offer for Subscription with 114 million ordinary shares issued at $1.00 each. The proceeds will be used to acquire an initial portfolio of CLO investments and will also invest the remaining proceeds in accordance with the investment policy.
The Investment Adviser to the Company is Fair Oaks Capital Limited which is an independent firm focused on the global credit markets. The team is based in the US and UK and is one of the most experienced independent credit investment teams, with the average level of experience for each professional being over 16 years.
Miguel Ramos Fuentenebro, co-founder of Fair Oaks Capital, the Investment Advisor to the Company, said: "We are delighted to have Fair Oaks Income Fund listed on the London Stock Exchange. We are the first investment company with an investment policy focused on the CLO market to IPO in the UK since the financial crisis and I believe this is a reflection of the track record and independence of our team. We now look forward to creating strong returns for our investors.”